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Singapore Formerly-Listed Allied Technology Ex-Director Roger Poh Sentenced to 6 Month Jail for Breach of Duties & Failing to Act Honestly in Acquisition of Activpass Holding, Owners Wiling to Sell 100% at S$25 Million But Roger Poh Proposed to Allied Technology Board to Spend S$25.2 Million to Acquire Only 51% with Transaction Done Thereafter Supported by Valuation Performed by Baker Tilly Consultancy Valuing the Company at S$57 Million to S$60.7 Million
11th January 2024 | Hong Kong
Singapore formerly-listed Allied Technology ex-director Roger Poh Wee Chow had been sentenced to 6 month jail for breach of duties & failing to act honestly in acquisition of Activpass Holding, with owners wiling to sell 100% at S$25 million but Roger Poh proposed to Allied Technology Board to spend S$25.2 million to acquire only 51% with transaction done thereafter supported by valuation performed by Baker Tilly Consultancy valuing the company at S$57 million to S$60.7 million. Activpass Holdings was owned by Peter Seow See Keong and Amy Leow Ai Li (wife). Roger Poh also knew that at least S$10 million of the S$25.2 million will be paid to Kingsblade through round-trippings, with Nicholas Zheng Jiabin (Director of Kingsblade) also present at a private discussion on the sale of Activpass Holdings with Roger Poh Wee Chow, Peter Seow See Keong and Amy Leow Ai Li (wife). In July 2023, ex-lawyer Jeffrey Ong was jailed 19 years for stealing s$76 million with S$33 million held in escrow belonging to Allied Technologies. Allied Technologies was delisted from Singapore Exchange (SGX) in 2022 (1st November).
“ Singapore Formerly-Listed Allied Technology Ex-Director Roger Poh Sentenced to 6 Month Jail for Breach of Duties & Failing to Act Honestly in Acquisition of Activpass Holding, Owners Wiling to Sell 100% at S$25 Million But Roger Poh Proposed to Allied Technology Board to Spend S$25.2 Million to Acquire Only 51% with Transaction Done Thereafter Supported by Valuation Performed by Baker Tilly Consultancy Valuing the Company at S$57 Million to S$60.7 Million, Ex-Lawyer Jeffrey Ong Jailed 19 Years in 2023 July for Stealing S$76 Million with S$33 Million Held in Escrow Belonging to Allied Technologies “
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Singapore Formerly-Listed Allied Technology Ex-Director Roger Poh Sentenced to 6 Month Jail for Breach of Duties & Failing to Act Honestly in Acquisition of Activpass Holding
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